TrueFoundry announced that it has raised a $2.3 million in seed funding round led by Sequoia India and Southeast Asia’s Surge. Other participating investors like Eniac Ventures and angels such as AngelList Co-Founder Naval Ravikant also participated in the funding round.
Other angel investors include Deutsche Bank Global CIO Dilip Khandelwal, Head of GitHub India Maneesh Sharma, Greenhouse Software CTO Mike Boufford and Kaggle Founder Anthony Goldbloom.
The fresh funding will be used to hire and expand its specialised technology team and further progress with product development.
According to the co-founders Abhishek Choudhary and Nikunj Bajaj, TrueFoundry was founded to automate repetitive tasks in the ML pipeline such as infrastructure and deployments, so that data scientists and ML engineers can focus on higher-value, more creative tasks. This enables businesses to continuously upgrade existing models and release new ones to gain a competitive edge, according to peoplematters report.
Nikunj Bajaj, Co-Founder and CEO of TrueFoundry said, “TrueFoundry was born out of the idea that no business – big or small – should miss out on the opportunities of machine learning. With our automated platform, data scientists and engineers can deploy machine learning models at the speed and maturity of big tech, cutting their production timelines from several weeks to a few hours.”
He also said that data is the new oil, and the company wants to enable other companies to use machine learning faster and generate greater business value. The investors and team share the belief that TrueFoundry is paving the way for innovation that will propel businesses for the future ahead, and their participation in our pre-launch funding is a great testament to that.
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